Pagaya Technologies Target of Unusually Large Options Trading (NASDAQ:PGY)

Pagaya Technologies Ltd. (NASDAQ:PGY) saw some unusual options trading activity on Monday. Investors bought 32,234 put options on the company. This is an increase of approximately 321% compared to the average daily volume of 7,658 put options.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Citigroup decreased their target price on Pagaya Technologies from $40.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Benchmark reduced their price objective on shares of Pagaya Technologies from $48.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Zacks Research downgraded shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Freedom Capital upgraded shares of Pagaya Technologies to a “strong-buy” rating in a research note on Tuesday, February 3rd. Finally, Canaccord Genuity Group decreased their price target on shares of Pagaya Technologies from $39.00 to $32.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $33.11.

Pagaya Technologies Stock Performance

NASDAQ PGY traded up $0.19 on Monday, reaching $11.68. The stock had a trading volume of 1,877,252 shares, compared to its average volume of 4,372,352. The company has a debt-to-equity ratio of 1.22, a current ratio of 10.55 and a quick ratio of 10.55. The company has a market cap of $938.99 million, a P/E ratio of 13.07 and a beta of 5.92. The firm has a fifty day moving average of $17.85 and a two-hundred day moving average of $25.18. Pagaya Technologies has a 1-year low of $8.50 and a 1-year high of $44.99.

Pagaya Technologies (NASDAQ:PGY) last posted its earnings results on Monday, February 9th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.05. The company had revenue of $334.81 million during the quarter, compared to the consensus estimate of $348.75 million. Pagaya Technologies had a return on equity of 44.24% and a net margin of 6.25%.The company’s revenue was up 19.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.17 earnings per share. On average, equities research analysts anticipate that Pagaya Technologies will post 0.88 EPS for the current year.

Insider Transactions at Pagaya Technologies

In other Pagaya Technologies news, CFO Evangelos Perros sold 9,750 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $22.99, for a total transaction of $224,152.50. Following the transaction, the chief financial officer owned 100,212 shares of the company’s stock, valued at $2,303,873.88. The trade was a 8.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Sanjiv Das sold 3,945 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $22.99, for a total value of $90,695.55. Following the completion of the sale, the president owned 129,986 shares in the company, valued at $2,988,378.14. This represents a 2.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 21,256 shares of company stock worth $547,198 in the last ninety days. Insiders own 47.59% of the company’s stock.

Institutional Trading of Pagaya Technologies

Institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc bought a new position in Pagaya Technologies in the third quarter valued at about $25,000. LSV Asset Management acquired a new stake in shares of Pagaya Technologies in the 3rd quarter valued at approximately $36,000. Root Financial Partners LLC bought a new stake in shares of Pagaya Technologies during the 4th quarter valued at approximately $27,000. Aster Capital Management DIFC Ltd increased its position in Pagaya Technologies by 351.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,392 shares of the company’s stock worth $29,000 after purchasing an additional 1,084 shares in the last quarter. Finally, Transamerica Financial Advisors LLC bought a new position in Pagaya Technologies in the 4th quarter valued at approximately $30,000. Institutional investors own 57.14% of the company’s stock.

About Pagaya Technologies

Pagaya Technologies is a financial technology company that applies artificial intelligence and machine learning to the credit and asset management industries. Through its proprietary data-driven platform, Pagaya analyzes vast datasets from consumer credit portfolios to build predictive risk models, enabling institutional investors to gain access to alternative credit products. The company’s solutions streamline underwriting, optimize portfolio construction and facilitate the efficient securitization of consumer loans, credit card receivables and other asset classes.

Founded in 2016 and headquartered in New York, Pagaya has expanded its operations to serve financial institutions and asset managers primarily in the United States.